Can one render scenes in a flat LOG color space for outside grading work?
A few notes to set the stage for an answer:


LOG is not a color space. It is a way to encode data (designed to scale large dynamic range Scene Referred data to fit within containers for Display Referred formats (0 to 1)).
Proper compositing should be done using linear data, in a common color- space.
Data from cameras should be linearized first (sometimes called "de-loged"), or converted to scene referred linear value for compositing (as per previous statement).
Blender's data is already linear and using scene referred values.


Attempt to answer

Sure you could create log files, but know that log files have to be converted back to linear for proper compositing. Why work twice, and miss the opportunity to carry the full contents of the render layer created in blender?

As per statement 4. Blender already generates data in a format that is perfectly suited for compositing. Rendered images, with all of their passes (composite, Alpha, Z depth and any number of other passes you want) can be easily stored in OpenEXR multilayer files, and that way the information will never distorted or re-interpreted.

Statement no 3 and 2 carry the information for your compositing workflow

Bring those EXRs files from Blender into Resolve, and composite using Fusion (now part of Resolve). Fusion can deal correctly with linear scene referred data. The linearized (de-logged) footage from your cameras should be easy to integrate that way.

On the settings for the project use "Davinci color managed", set the timeline to use Rec709(scene). In the media tab in Resolve you can set the correct color transform for the footage. Use the "gamut" node, (or OCIO Colorspace nodes) to remove any curves (Log is a "curve") and make sure that the color primaries for gamut are set to sRGB/709.

Once the data from camera and blender is all linear, and in a common color space, you can go ahead and composite, and color grade the result.

To finish, just encode the final images to the delivery format and codec of your choice.

For more detail refer to this link: I have tried to import EXR files to Davinci Resolve with the LUT&#39;s